Germany rolls out new electric car stimulus
- Ben Geman, author of Axios Generate
An electric car BMW I3 is charged at a charging station. Photo: Sven Hoppe/picture alliance via Getty Images
"Germany is doubling incentives offered to buyers of battery-powered cars as part of a 130 billion-euros ($146 billion) economic recovery package for the period through the end of next year — but the government refused pleas for the program to include internal-combustion cars," Automotive News reports.
Why it matters: It fills in some of the blanks in the wider — and very open — question of how much governments will seek to use stimulus packages to bolster low-carbon technology as they support domestic industries.
By the numbers: Per its story and others, buying EVs with a price of up to roughly $45,000 will be eligible for government and manufacturer incentives totaling about $10,000.
The intrigue: Via Reuters, the price structure means that "premium carmakers like BMW, Mercedes, and even Tesla are not eligible for the full amount," while it will benefit makers of less expensive models like the VW ID3 and the Kia e-Niro.